LF Miton US Opportunities Fund B Accumulation

US Equities

Rated Fund 2018-19. A flexible but focused fund

This fund was named the Best North America Fund in Money Observer’s 2017 and 2016 awards, having been highly commended in 2015.

Nick Ford and Hugh Grieves, its managers since launch in 2013, invest in a high-conviction portfolio of around 40 companies from the Russell 3000 index (98% of the investable US stockmarket). They seek companies with a competitive advantage in their products and services that have regular and growing cashflows and are more likely to deliver than businesses that are developing new products or relying on one-o_ events.

They are stockpickers, but keep an eye on macro trends and will avoid entire sectors if they think they are at risk of a setback. FundCalibre managing director Darius McDermott says: “The managers are completely style-agnostic and have extensive experience, having run small cap, large cap, value and growth mandates in the past.”

Although the US is coming off a period of growth and a slowdown is inevitable, the US Federal Reserve should be able to prolong growth by easing off from tightening monetary policy amid any signs of a slowdown, they say.

A change in investor sentiment about the velocity of interest rate rises should also support asset prices this year. At the end of 2018 the portfolio balanced the defensiveness of healthcare stocks with information technology, industrials and financials, which are more sensitive to the business cycle.

Narrative and ratings content all as of January 2019.

See all Money Observer rated funds
LF Miton US Opportunities Fund B Accumulation
Link Fund Solutions Limited
Open Ended Investment Company
North America
0.9 %
Risk Rating
3 Year Sharpe
3 Year Alpha
0.3 %
Not Benchmarked
The fund aims to achieve long-term total returns by investing primarily in a portfolio of North American equities.
Holding %
Fidelity National Information Services Inc 4.00 %
Mondelez International Inc Class A 3.18 %
Service Corp International 3.15 %
WEX Inc 3.06 %
Watsco Inc 3.05 %
WEC Energy Group Inc 3.03 %
CoStar Group Inc 3.01 %
Lowe's Companies Inc 3.01 %
Roper Technologies Inc 2.99 %
Universal Health Services Inc Class B 2.97 %
Region %
United States 96.78 %
Sector %
Industrials 20.89 %
Consumer Cyclical 16.20 %
Healthcare 14.84 %
Financial Services 12.05 %
Technology 11.79 %
Consumer Defensive 6.95 %
Real Estate 6.36 %
Utilities 6.23 %
Link Fund Solutions Limited
EC2V 7NQ, London, United Kingdom
Legal Structure
Open Ended Investment Company


Nick Ford
Joined 03/18/2013

Nick Ford joined Miton Group plc in December 2012. Prior to this, he was the Investment Director on the US and Global Desk at Scottish Widows Investment Partnership. Nick has over 20 years of experience in managing equity funds. His previous roles include co-manager of the Gartmore US Smaller Companies fund, manager of the US Unit Trusts for Sun Alliance and Clerical Medical, as well as working as a member of the small cap team at F&C Asset Management. Nick graduated from the University of Surrey.

Hugh Grieves
Joined 03/18/2013

Hugh Grieves joined Miton Group plc in January 2013. Prior to this, he worked for Herald Investment where he was responsible for managing the Herald Worldwide Fund. From 2000-2008 he co-managed the technology funds at Societe Generale Asset Management Ltd with Alan Torry and managed the funds from 2008-2009. Prior to that Hugh worked from 1995-2000 in the US smaller companies team at Gartmore. Hugh graduated from Bristol University with a degree in Economics and is a CFA charterholder.

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